A growing business which serves the world’s oil, gas, petrochemical and power generation industries has expanded its Black Country operations.
Prosper Distribution has taken on a 40,000 sq ft unit at the Pensnett Estate in Kingswinford, where it, and associated businesses, have had a base for 36 years. The expansion brings its total space over four units to 130,000 sq ft and the investment will create 20-25 jobs.
A joint venture between Midsteel Group and Lithgows, Prosper Distribution supplies high integrity bolts and specialised fasteners for use in the oil, gas and petrochemical industries.
It is one of the longest established tenants on the estate, which is owned and managed by London and Cambridge Properties (LCP), and it required the additional space to improve its manufacturing capabilities.
Finance director Alan Street said: “The new unit represents a significant investment in the business. We employ 70 people at Pensnett and the expansion here will create 20-25 jobs.
“We are one of the oldest tenants on the estate and like the location because it is local to a number of essential sub contractors.”
The business is heavily involved in export to most parts of the world, primarily Europe, Scandinavia and the Middle East.
Alan added: “We hope to expand further as the industry we supply is one of the few that is doing well at the moment because it is energy related. We plan to continue growing the business and that will mean taking on even more units and creating more jobs.”
LCP is a major private owner of industrial and retail property and manages assets worth in excess of £1 billion.